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Persistent link: https://www.econbiz.de/10010479493
vary systematically with the included characteristics). Rather than relying on standard monetary policy shock …
Persistent link: https://www.econbiz.de/10013170546
The paper investigates how changes in industries'' funding costs affect total factor productivity (TFP) growth. Based …
Persistent link: https://www.econbiz.de/10014398575
Our answer: Not so well. We reached that conclusion after reviewing recent research on the role of technology as a source of economic fluctuations. The bulk of the evidence suggests a limited role for aggregate technology shocks, pointing instead to demand factors as the main force behind the...
Persistent link: https://www.econbiz.de/10014403910
between the United States and the rest of the world, this paper asks to what extent an asymmetric productivity shock in the … second half of the 1990s. The paper concludes that the Balassa-Samuelson effect of such a productivity shock is only part of … the story. A second shock, a broadly defined “risk premium” shock, and some uncertainty about the persistence of both …
Persistent link: https://www.econbiz.de/10014399692
We study equity price volatility in general equilibrium with news shocks about future productivity and monetary policy …
Persistent link: https://www.econbiz.de/10014399366
output and total factor productivity (TFP) in the wake of a crisis. Second, we develop a DSGE model with financial frictions …
Persistent link: https://www.econbiz.de/10012610732
This paper examines the impact of productivity shocks on real exchange rate fluctuations in a dynamic international … statistically significant relationship exists between bilateral real exchange rates and international productivity differentials in …
Persistent link: https://www.econbiz.de/10014399831
productivity and monetary policy. We identify a condition under which these asset prices become more volatile without affecting the … to productivity shocks. The model we set up does well at matching second moments of exchange rate and equity returns for …
Persistent link: https://www.econbiz.de/10014400236
I study the implications of productivity shocks in a model where agents observe the aggregate level of productivity but … shock is sluggish and peaks with delay; (ii) permanent shocks generate positive rather than negative savings on impact; and …
Persistent link: https://www.econbiz.de/10014400934